John Abebe and his company, Inducon Nigeria Limited, must open their defence in an alleged N120 million fraud case after the Special Offences Court in Ikeja dismissed their no-case submission.
Justice Olubunmi Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos, on Thursday ruled that the prosecution had presented sufficient evidence requiring the defendants to respond to the allegations.
Abebe and Inducon Nigeria Limited were arraigned on September 19, 2022 on a six-count charge bordering on conspiracy to steal, stealing, conspiracy to obtain by false pretence, obtaining by false pretence and obtaining execution of security by false pretence involving N120 million.
The prosecution alleged that the defendants conspired with one Kamoru Alade Oladimeji to fraudulently obtain the money from Arsenal Technologies Limited.
One of the counts alleged that the defendants, on or about June 4, 2013 in Lagos, conspired among themselves to steal the sum of N120 million belonging to Arsenal Technologies Limited.
Another count stated that the defendants allegedly obtained the same sum under the false representation that a property located at 9, Magbon Close, Ikoyi, Lagos, which they pledged as collateral to the complainant company, was free from encumbrances.
According to the charge, the representation was false as the property had earlier been pledged to a bank.
The defendants pleaded not guilty to the charges, prompting a full trial.
During the proceedings, the prosecution called four witnesses before closing its case on May 15, 2025.
Following the close of the prosecution’s case, the first and third defendants filed a no-case submission on October 14, 2025, arguing that the prosecution had failed to establish a prima facie case linking them to the alleged offences.
In her ruling, Justice Abike-Fadipe held that at the stage of a no-case submission, the court only determines whether the prosecution has presented legally admissible evidence linking the defendants to the alleged crimes and not whether such evidence is sufficient for conviction.
The judge noted that the prosecution had led evidence suggesting that the defendants obtained about N120 million from the complainant by pledging a property that had already been used as collateral with a bank.
She added that the evidence, if believed, required an explanation from the defendants.
Consequently, the court dismissed the no-case submission and directed the defendants to enter their defence.
Justice Abike-Fadipe adjourned the case until May 28 and June 3, 4, 24 and 25, 2026 for the defence to open its case.
